I think its pretty funny how most of the cmdrs here seem to interpret the narrative content in a completely negative way.
If it were Galnet, or a CG, or anything other insignificant - like a new crashed ship site, it would most likely not be up there on the list, they've been doing this for months now, so why put it up for august and not for may.
Narrative content in the sense arthur mentioned it on stream yesterday, seems to rather be stuff like prior to the return of the thargoids. Which were guardian ruins, later on AX weaponry, guardian modules and slfs, ships etc. While I wouldn't count on any of that big stuff before the " conclusion" in november, which is quite obviously thargoids on foot, new locations might pop up, new things to explore and so on. This I believe to be highly likely.
I get why fdev doesn't elaborate further on this, since this would be heavy spoiler stuff, but I guess a little clarification in written form like: "this wont be just Galnet but real new explorable content" wouldn't have hurt, but oh well here we are.
The last months have been disappointing, but I have to give them the benefit of the doubt on this one.